Feel like healthcare costs are putting you 6’ under?

If you are like most people 55 and older, in the USA, then you are worried about what healthcare will cost in the coming years…and you should be.  According to a recent article published by fidelity investments it states, “an average retired couple age 65 in 2019 may need approximately $285,000 saved (after tax) to cover health care expenses in retirement. Of course, the amount you’ll need will depend on when and where you retire, how healthy you are, and how long you live.”  But hold on to your seats because healthcare costs, in 20 years, are expected to jump to $600,000 in retirement..  So what do you do?  Sounds daunting.  


Well, don’t fear there are literally millions of others in your shoes and trying to figure this out.  If you are retiring now or are retired, feel grateful you have Medicare benefits, by the time most of us retire the chances Medicare is still around is slim.  According to a study done by Kaiser the following graph shows how many people will be in need of medicare versus the number of people funding it:

Basically, there won’t be enough revenue and too much expense.  Medicare, unless something is done will be insolvent. 


At the same time, the Medicare advantage penetration continues to grow, which gives potential options for retirees, as seen in the graph below:  

Without diving into emotionally charged, political conversations, lets just say we can’t take our eye off the ball but shouldn’t freeze up with thoughts of the future.  Don’t forget to save your pennies, eat healthy and exercise (I bet you’ve never heard these things before), all these things combined are way more powerful than any fearful thoughts of future healthcare costs.  More to come on this topic for years to come, right here, so visit often so we can work through it together.



 “How to plan for rising health care costs – Fidelity.” 1 Apr. 2019, https://www.fidelity.com/viewpoints/personal-finance/plan-for-rising-health-care-costs. Accessed 11 Oct. 2019.

 “Annual Report – America’s Health Rankings.” https://assets.americashealthrankings.org/app/uploads/ahrannual17_complete-121817.pdf. Accessed 11 Oct. 2019.

 “A Primer on Medicare: Key Facts About the Medicare Program ….” 20 Mar. 2015, https://www.kff.org/medicare/report/a-primer-on-medicare-key-facts-about-the-medicare-program-and-the-people-it-covers/. Accessed 12 Oct. 2019.

 “A Dozen Facts About Medicare Advantage | The Henry J ….” 13 Nov. 2018, https://www.kff.org/medicare/issue-brief/a-dozen-facts-about-medicare-advantage/. Accessed 12 Oct. 2019.